April 27, 2020
As per the report titled ‘GPU Market Size By Component, By Deployment Model, By Application, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2018 - 2024’, available with Market Study Report LLC, global GPU market is estimated to accrue USD 80 billion by the year 2024.
Global GPU market is projected to cross 121,000 thousand units by the year 2024. GPUs are highly optimized for data parallelism and high-throughput computing where numerous transistors are dedicated for computation and the entire architecture is designed to be resistant to memory latency. GPUs are specialized microprocessors that primarily serve the purpose of quick and efficient image rendering. GPUs offer an enhanced PC gaming experience as compared to onboard graphics solutions by offering rich video output while maintaining an excellent performance in terms of interactive input/output.
Increasing adoption of GPUs in healthcare industry, rapid advancements in PC gaming along with the emergence of interactive Virtual Reality (VR) games, and growing popularity of GPUs for machine learning and neural network training applications are the major growth drivers of global GPU market.
For machine learning and Big Data analytics applications, GPUs are highly efficient as they offer superior multiple parallel processing. The product is gaining popularity adoption among scientists and data analysts who require huge Big Data processing capabilities.
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Based on deployment model, cloud segment is slated to see modest growth during the study period. Growing trend among processor manufacturers to partner with cloud service providers for offering GPUaaS to their customers will bolster the segment growth the coming years. Cloud-based GPU capabilities provide excellent computational power to customers and eliminates the high investment cost associated with dedicated hardware installed on-premise. High scalability and flexible pricing models are favoring the adoption of GPUaaS.
Speaking of the application spectrum, healthcare segment is anticipated to witness considerable growth during the forecast period, owing to growing use of GPUs in wide array of operations ranging from MRI connectivity mapping and interactive model-based image registration to image reconstruction and medical imaging. Also, focus towards affordable healthcare is demanding effective cost managing solutions throughout the entire medical imaging lifecycle, in turn, encouraging the adoption of faster and power efficient GPUs.
Considering the geographical landscape, Asia Pacific accounted for 34% share of global GPU market in 2017 and is expected to display strong growth through 2024. Soaring popularity of PC games in several Asian countries including Japan, China, and South Korea are driving the demand for dedicated GPUs. For instance, Japanese gamer average spending is approximately 2.5 times higher than those of western Europe and about 1.5 times higher than of North America.
Meanwhile, Europe GPU market is poised to see substantial growth in the coming years, owing to escalating demand for GPUs from cryptocurrency miners to maintain high performance of their servers. Rising trend among cryptocurrency miners to shift their operational base to Sweden and Norway due to benefits such as low temperatures and cheap hydro-electric energy to power-up and cool their servers, is expected to boost the market growth.
Major players of functioning in global GPU market are Intel, AMD, Nvidia, Amazon Web Services, Inc., Microsoft, Oracle, and IBM Corporation.
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